Comptroller Fiscal Year Memo Letter Head

To:           Chief Fiscal Officers, MMARS Liaisons and Payroll Directors

From:      Martin J. Benison, Comptroller

Date:       December 15, 2011

Subject:  Sovereign Bank On-Line Training for DYNACash Accounts

                        Comptroller Memo FY #2012-12A


Executive Summary

Departments should be ready to do business with Sovereign Bank for all their DYNACash needs (also referred to as Emergency Advance Checking Accounts) by January 1, 2012.  Per Comptroller Memo FY #2012-12 , the majority of departments have already completed and submitted the necessary business forms to establish the new account and order checks.  Two activities are underway, training and signature cards.

Attachment A xls format of FY12-12 Attachment A must be received before set up begins for any department that has not completed this work.


EMPLOYEES NEED TO BE TRAINED IN IRIS:

All users identified in Part C of Attachment A xls format of FY12-12 Attachment A should be trained before January on Sovereign’s Interactive Reporting & Initiation Services (IRIS).  Sovereign Bank in conjunction with CTR will provide instructor led webinars on the dates and times listed below:

Wednesday, December 21                  10:00 AM

Wednesday, December 21                  2:00 PM

Thursday, December 22                      10:00 AM

Wednesday, December 28                  2:00 PM

The webinar will provide participants with how-to navigation through IRIS from start to finish.  Process DYNA Checks, view the status of processed transactions, retrieve and reconcile monthly statements and obtain financial and reporting information as necessary.

Registration via the Comptroller's Training/Meeting Schedule is required to confirm access to the webinar. CTR will e-mail the necessary log in instructions to all registered users prior to the session. Please direct registration questions or issues to the Comptroller Help Desk at 617-973-2468 or via email Comptroller.Info@State.MA.US.

You can attend the webinar from your desk top or you can attend as a group in a conference setting.  This training is mandatory for all departments that have DYNACash accounts.

SIGNATURE CARDS

In addition, Sovereign will be mailing the account signature cards next week to each department as you designated in Attachment A.  Signed cards must be on file at Sovereign prior to issuing any checks on your new account. 

TD Bank accounts will be closed after December 31, 2011.  Please contact William Smith at 617-973-2355 if you have any questions.

Attachment A xls format of FY12-12 Attachment A

Cc:       General Counsels

            Internal Distribution